Gossip Rocks Forum - View Single Post - Young Americans struggling with debt, not able to reach for the 'dream'

pacific breeze · January 15th, 2006, 05:58 PM

I think it is harder for people today, and not just young people.

That said, a lot of people live beyond their means. They HAVE to have a new car, holidays, lunches and other meals out, the latest gadgets and fashions as though they were a birthright rather than something you save and sacrifice for.

I live quite well and buy the luxury items I want when and only when I have the money to pay for them. My car is 18 years old -- it runs well, and the only reason I am replacing it next year with another used vehicle is that my husband is convinced I need one with air bags etc. to be safe.

I bring my own lunches, and sometimes my own coffee and tea, so that I can eat out a really good restaurant every couple of weeks. I shop at sales, ask for discounts (something I never used to do), and use coupons when I remember. And if it's a have to have, I buy it even if it's expensive. You have to treat yourself ONCE in a while. On the other hand, the best way not to spend money is to stay out of the stores (other than grocery stores). And even there, I buy what's in season and if it's outrageously expensive, I don't buy it.

I don't have the keeping up with the Jones' mentality in terms of applicances or gadgets either. I still don't have an Ipod and am in no rush to get one.

I earn a lot less money now than I used to, but I'm not living any less well except for the ability to jet away when the mood strikes. And I live in one of the most expensive cities in North America.

Again, it's partly a question of setting priorities. I have a lot of students who rack up incredible amounts on nails, tanning, trips, clothes etc. on their credit cards. While some parents pay for school, a lot take loans and work part-time. Guess which ones complain the most about money and do the least work? But all seem to resent paying for education and I've had to resort to Draconian measures to get them to buy one textbook.

It's a lack of responsibility that starts at home, IMO.

January 15th, 2006, 05:58 PM	#7 (permalink)
pacific breeze Hit By Ban Bus! Join Date: Oct 2005 Location: in the wild blue yonder Posts: 15,540	Re: Young Americans struggling with debt, not able to reach for the 'dream' I think it is harder for people today, and not just young people. That said, a lot of people live beyond their means. They HAVE to have a new car, holidays, lunches and other meals out, the latest gadgets and fashions as though they were a birthright rather than something you save and sacrifice for. I live quite well and buy the luxury items I want when and only when I have the money to pay for them. My car is 18 years old -- it runs well, and the only reason I am replacing it next year with another used vehicle is that my husband is convinced I need one with air bags etc. to be safe. I bring my own lunches, and sometimes my own coffee and tea, so that I can eat out a really good restaurant every couple of weeks. I shop at sales, ask for discounts (something I never used to do), and use coupons when I remember. And if it's a have to have, I buy it even if it's expensive. You have to treat yourself ONCE in a while. On the other hand, the best way not to spend money is to stay out of the stores (other than grocery stores). And even there, I buy what's in season and if it's outrageously expensive, I don't buy it. I don't have the keeping up with the Jones' mentality in terms of applicances or gadgets either. I still don't have an Ipod and am in no rush to get one. I earn a lot less money now than I used to, but I'm not living any less well except for the ability to jet away when the mood strikes. And I live in one of the most expensive cities in North America. Again, it's partly a question of setting priorities. I have a lot of students who rack up incredible amounts on nails, tanning, trips, clothes etc. on their credit cards. While some parents pay for school, a lot take loans and work part-time. Guess which ones complain the most about money and do the least work? But all seem to resent paying for education and I've had to resort to Draconian measures to get them to buy one textbook. It's a lack of responsibility that starts at home, IMO.